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Ripple: A Stable and Convenient Addition to the Cryptocurrency Market

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Ripple
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When we talk about the cryptocurrency market as a whole, Bitcoin always seems to take the center stage. Since its development in 2009, Bitcoin has been the most frequently used digital currency among the traders around the world till date. As a result, a significant number of traders seem to overlook the activities associated with the rest of the eighteen hundred cryptocurrencies, more commonly known as altcoins or alternative coins. Among these altcoins, Ripple is majorly familiar to the investors for the stability it provides and for the convenience of using its technologically advanced network. Here, a few aspects of this ingenious digital currency will be discussed.

Ripple’s Introduction to Cryptocurrency Market:

Ripple basically refers to a real-time gross settlement (RTGS) system developed by a company of the same name. The Ripple Company, based in San Francisco, at first developed Ripple as an efficient remittance network as well as a currency exchange. The main purpose of introducing Ripple to the market was to offer an instantaneous transaction facility to its users spread across the globe. The focus was also on providing an impregnably secured system so that the users can rely on the system without any major concern.

Ripple was first released as Ripple Transaction Protocol (RTXP) in 2012. Since then, it has undergone numerous updates to make the system even more effective and user-friendly. The latest update took place on 3rd February of 2018 when Ripple version 0.81.0 was successfully launched. Despite undergoing so many developments, the core technology of this cryptocurrency still remains unchanged. The structure of Ripple’s system is based upon a consensus ledger, a distributed open source protocol, and its globally accepted cryptocurrency XRP.

Ripple network is capable of supporting various fiat currencies along with other commodities and cryptocurrencies. Also, it can also operate among other internet service providers, various organizations, and within the campus of Massachusetts Institute of Technology. Being one of the most stable cryptocurrencies in terms of total market capitalization and value of an individual coin, Ripple’s popularity among both novice and experienced traders is growing rapidly. As a result of this, Ripple now holds the third position behind Bitcoin and Ethereum in the list of Coinmarketcap.

Figure 2: Ripple’s Official Website

Breaking down Ripple’s Technology:

As mentioned above, Ripple’s technology is a decentralized open-sourced protocol that can offer a lightning-fast payment system with a veritably low transaction cost and also without any charge-backs. The principal constituents of Ripple’s technology include gateways, a consensus ledger, a payment/forex system, privacy settings, market makers, and an open API. The XRP coin of Ripple network acts as a bridge to other currencies (both fiat and digital). As Ripple does not discriminate between a fiat and a cryptocurrency, exchanging one currency for another is considerably easy on its network compared to others.

Advantages Provided by Ripple:

Ripple’s ingenious technology comes with myriads of beneficial features for its users. Some of those advantages are:

Greater speed: The payment system of Ripple offers an incredible speed in comparison with other cryptocurrencies like Bitcoin or Ethereum. As a result, transactions can be carried out instantaneously on this network. The average time taken for each transaction is approximately four seconds on Ripple’s decentralized system.

Distributed system: Ripple’s decentralized network provides a highly efficient distributed payment procedure that can be operated from any part of the world as long as there is a decent internet connection available.

Scalability: Scalability is one of the principal features that Ripple exhibits. Scalability refers to the ability to execute multiple tasks simultaneously while maintaining accuracy and quality. When it comes to transactions, Ripple network is capable of maneuvering nearly 1500 transactions per second without any interruption or glitch. This tremendous ability makes Ripple extremely favorable to numerous cryptocurrency traders.

Stability: Cryptocurrencies like Bitcoin often suffer from a drastic decline and recover from it in no time. This capricious nature makes certain cryptocurrencies unreliable to invest. Many cryptocurrency experts have remarked such currencies as “bubble” due to their volatile nature. On the other hand, Ripple’s price, however small it may seem in comparison with Bitcoin’s whopping figure (circa $11,000 on 27th Feb 2018), is very stable and does not undergo drastic changes. This feature makes XRP one of the most reliable cryptocurrencies available in the market.

Exchanges Where Ripple Is Available:

There are several cryptocurrency exchanges available in the cryptocurrency market accepting Ripple nowadays. The most reliable ones among them include Bithumb, Coinone, Korbit, Bitso, Bittrex, Bitfinex, Poloniex, BitStamp, HitBTC, Kraken, etc. Also, new exchanges like BitPanda, CoinMama, and many more have also started accepting Ripple as a valid cryptocurrency. The way more and more investors are inclining towards Ripple, it is likely to get listed on other cryptocurrency exchanges as well.

The Current Position of Ripple:  

As far as overall market capitalization is concerned, Ripple currently stands on the third position in the list of cryptocurrencies with a market cap of approximately 38 billion (as on 27th February 2018). An individual XRP coin is equivalent to $0.967513 at the moment with a steady upward trend.

Figure 3: Ripple Chart on 28th Feb 2018

Ripple Speculation:

In 2017, the price of Ripple grew by nearly 28,000%. Judging by this trend, many speculators are hopeful about a significant escalation in Ripple’s total market cap as well as the value of its XRP coin. Another reason behind such positive speculation is Ripple’s tendency to engage in fructuous partnerships and customer acquisition. In the previous year, Ripple got involved with 75 commercially deploying customers.

Conclusion:

With the technological ingenuity, reliability, and convenience it offers to its customers, Ripple is likely to achieve more significant feats along with moving further up in the list of cryptocurrencies.

We will be updating our subscribers as soon as we know more. For the latest on XRP, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency.

Altcoins

A matter of time before TRON (TRX) achieves mass adoption

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TRON
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Tron (TRX) has all its eyes on decentralizing the internet, or rather content-sharing to ensure that creatives, artists, musicians, and authors can all release their content without the need of middle companies. As it seems, Tron’s founder hopes that the coin will challenge the globe’s major content providers like Facebook and YouTube.

The coin has undoubtedly made progress since its launch from a coin offering on the Ethereum ledger platform to now a native coin present on the official Tron Mainnet. If you think launching the independent MainNet is all Tron wanted to achieve, you are mistaken.

The aim is towards mass adoption as well as creating a decentralized web. Yeah, it is a  fact that in the past weeks TRX has experienced price declines, but currently, the cryptocurrency is riding 5.37% hike against the USD in the last 24 hours (remember most of the other top coins including Bitcoin are in red).

It’s also continued succeeding in attaining quality listings such as the Bittrex (to name one of the most recent ones). Therefore, it seems as every step TRON makes is a sign of progress to make the decentralized web a reality.

How TRON (TRX) is Making Mass Adoption a Reality

The primary objective for TRON (TRX) is to create a decentralized web which will be a representation of the internet’s next generation. Therefore, in making that a reality, the largest file-sharing platform, BitTorrent that has over 100M global…

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Altcoins

Hyperion-Stellar Partnership Finalized — Support For Stellar’s Crypto Assets Trade About To Arrive

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Stellar
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Hyperion and Stellar: A new partnership

According to a recent announcement by Global Blockchain Technologies Corp., it would seem that the known crypto exchange Hyperion has finally made an agreement with Stellar (XLM). The new partnership is to allow Stellar’s own crypto assets to be traded on Hyperion’s platform. This move is expected to significantly impact Stellar’s price and spread awareness of the coin and its goal even further.

Hyperion uses an alternative trading system (ATS), which was licensed by the SEC. As a part of this arrangement, previously attained via investment in DBOT (Delaware Board of Trade), Hyperion has permission to also operate as a broker-dealer. It is also expected to become North America’s first advanced security token exchange.

As many are already aware of, Stellar is a trading protocol that is used for issuing, exchanging, and transferring digital assets. It works with several other cryptocurrencies, but also with fiat currencies like the USD. Additionally, Stellar also works even with some commodity assets, like gold.

Stellar’s goal is similar to that of Ripple, at least when it comes to enabling faster and better cross-border transactions. While Ripple focuses on providing its services to banks and financial institutions, Stellar aims to provide these services to individual investors. Thanks to this, Stellar has received a lot of attention and praise from individual investors, as the general interest in cryptocurrencies grew.

Why is this partnership important?

By joining Hyperion’s…

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Bitcoin

Bitcoin Volume Improves — Is A New Bull Run About To Start?

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Bitcoin volume
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After more than half a year of price drops and losses in value, Bitcoin’s price has finally demonstrated signs of stability. For weeks, Bitcoin managed to remain above the price of $6,550 per coin, which was followed by a small price surge that has allowed the coin to reach $6,600.

Not only that, but Bitcoin’s volume also saw a 12% increase that has taken it from $3.2 billion to $3.6 billion according to CoinMarketCap. While this state of the market did not include all the altcoins, with some of them even experiencing losses, the situation regarding Bitcoin did look promising.

However, the new situation has changed that, as both investors and analysts woke up to the news of crypto prices going down.

Bitcoin volume predictions

Cryptocurrency analysts around the world have been predicting that the recently-balanced situation regarding Bitcoin and many altcoins will not last. While some believed that Bitcoin volume will go up, others have been claiming that it will drop once again, as it has finally happened.

At the moment, Bitcoin has managed to drop below what was recently believed to be its bottom, with a new price being at $6,297. Instead of reaching milestones such as $6,800, and then $7,000 mark as many have hoped, BTC actually dropped by around 6%.

For a while, Bitcoin has been showing signs that it is ready to grow once more. However, the trouble once again lies with the…

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